Even Ben Bernanke Admits that Gold Is the Ultimate Safe Haven
As I noted yesterday, Alan Greenspan says that gold is the ultimate safe haven:
Gold still holds reign over the financial system as the ultimate source of payment.
Indeed, as I’ve previously reported, gold is in high demand during periods uncertainty and distrust of government. And see this.
As Ambrose Evans-Pritchard points out today:
Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.
- Financial Crisis Inquiry Commission Slams Greenspan, Bernanke, Geithner, Paulson, Summers, SEC, Rating Agencies and Big Banks for Causing Crisis
- Senator Warren Rips Ben Bernanke and Other Financial Regulators Over “Too Big” Banks
- Is Abandonment of Mark-to-Market Bullish for Gold?
- Simon Johnson: “If Everyone Involved Is Using the Same Roadmap of Risks, We Will All Drive off the Cliff Again Together”
- 30,000 Criminal Referrals Led to 1,000+ Felony Convictions In Major Fraud Cases During the S&L Crisis … Not Even a SINGLE Prosecution Today, Even Though the 2008 Crisis Was 70 Times Bigger
- Fed Trying to Make It Harder for Homeowners to Fight Mortgage Fraud by Gutting Truth In Lending Laws
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